Contact Us

Free Phone:
0800 634 3058

Main Line:
01270 527 590

Fax:
01270 527 597

Address:
Debt Stop Direct Ltd
Suite 19
Edwin Foden Business Centre
Sandbach
Cheshire
CW11 3AE

BUSINESS CONDITIONS FOR OUR DEBT CONSOLIDATION PROGRAMME

It is our aim that your decision to use Debt Stop Direct Limited proves to be one of the most valuable decisions you ever make in striving to gain control of your finances. It is this that is at the forefront of our mind when we outline our terms of business (TOB) of the agreement we have with yourself. The following text details the full terms of this agreement. Most importantly we believe we have made these TOB as transparent as possible, so as it is as easy as possible for you to make yourself fully aware of how the programme will operate. However if any part of these TOB raises any doubt or question in your mind please don’t hesitate to contact us via any of the methods detailed in Section 1. These TOB form the core of our relationship with you so please read them carefully.

IMPORTANT NOTE:

These TOB apply to all Debt Stop Direct Limited clients and explain our obligations to you and yours to us. They may be added to or amended at any point in the future. Any changes that are deemed necessary will be brought to your attention prior to there implementation.

Contents:

Section 1 - Contact Details

Section 2 - Opening Hours

Section 3 - Definition of terms

Section 4 - Appointment and Term

Section 5 - What we will do

Section 6 - What you will do

Section 7 - What we Won’t do

Section 8 - Managing your Money

Section 9 - How you may end this agreement

Section 10 - How we may end this agreement

Section 11 - Effect of ending the agreement

Section 12 - Privacy Policy

Section 13 - Other Terms

SECTION 1 - CONTACT DETAILS

• DSD Company Registration Number – 5324920
• DSD OFT License Number - 565979
• DSD Registered Office :
  Suite 16, 19, Edwin Foden Business Centre
  Moss Lane
  Sandbach
  Cheshire
  CW11 3AE
• Telephone - 0800 634 3058
• Email - customerservices@debtstopdirect.co.uk
• Fax - 01270 527 597

We are available for contact via any of the above means and available during the opening hours detailed in Section 2 of this document. We will always endeavor to respond to any query within 3 working days, but in certain circumstances this period of response may extend beyond this

SECTION 2 – OPENING HOURS:

Monday to Thursday – 09:00hrs to 19:30hrs

Friday - 09:00hrs to 17:00hrs

Saturday - 09:00hrs to 13:00hrs

Sunday - CLOSED

During some exceptional circumstances and in the best interest of maximizing the potential of your programme, staff here at DSD may seek to contact you outside of these standard hours. In these circumstances you may be contacted upto 21:00hrs Monday to Saturday but only if we believe that contact is urgent and in your own best interests.

SECTION 3 - DEFINITION OF TERMS

‘’DSD’’ means Debt Stop Direct Ltd as detailed in Section 1 of this document

‘’Agreement’’ means the agreement made between You and Us made mainly on these TOB.

‘’TOB’’ means Terms of Business

‘’Cleared Funds’’ – any monies paid by you to us and which has not been returned unpaid within a) 4 working days for bank giro credits, standing orders, direct debits, Point of Sale Transfers and other electronic transfer methods. Or b) 7 working days for cheques. Please request more information via your client liaison officer if you wish to make a payment via any other method and would like information regarding clearance time.

‘’Client Authority Form’’ relates to the form we ask you to sign to give us authority to contact your creditors on your behalf. This form has multiple boxes for you to sign. The reason for these multiple boxes is that on very rare occasions certain creditors will ask for original forms to be sent off and by supplying multiple signatures this gives us the capacity to do this.

‘’Us’’ or ‘’we’’ means DSD or anyone to whom we transfer our obligations under this agreement

‘’You’’ means the person / persons named on either the payment programme or the client authority form.

SECTION 4 – APPOINTMENT AND TERM

You appoint us and we agree to act on your behalf, as financial advisors and debt adjusters and to provide the services. This Agreement will start when you confirm your acceptance of these Terms of Business either by telephone or by returning the signed Client Authority Form or if earlier, the day when we receive the Initial Fee from you in cleared funds. This agreement will continue for the term, unless ended earlier by You as set out in Section 9 of this agreement, or by us as set out in Section 10.

You have a right to cancel our agreement at any time during the first seven days of the Term. “Days” here include Saturday, Sundays and public holidays. You can do this by writing in to us at our registered office (detailed in Section 1) or via email to the address detailed in Section 1. We will refund to you any Fees already paid to us that are cleared funds. We aim to have these funds returned to you within 7 working days, however there may be instances whereby this period is extended in which case any funds should be returned within a maximum of 28 days.

SECTION 5 – WHAT WE WILL DO:

Based upon information provided by you to us, we will review your income, outgoings and living expenses and calculate a monthly payment which we believe you can afford.

Once the Agreement starts we will notify your creditors of our involvement and will attempt to agree with them revised payment terms on your behalf. We will in particular attempt to persuade your creditors, where appropriate, to accept reduced monthly repayments from you, not to charge interest and to either suspend or withdraw any recovery, or similar, proceedings, which they may already have taken against you or may have threatened to bring against you. We will endeavour to provide as much assistance to you as we can based on our expertise and experience of dealing with creditors.

If your circumstances change and you are unable to meet the payments set out in the payment programme, we shall attempt to re-negotiate with your creditors and arrange with you a revised payment programme. We will in any event periodically review your situation, normally every twelve months or earlier if your creditors insist, and we will prepare and issue a revised payment programme with you and your creditors if this is appropriate.

We shall provide to you each month a statement listing your creditors, the status of any negotiations with them, the monthly repayments made to them that month and the fees which we have charged you.

We shall keep you informed of all material communications from your creditors to us appropriately and promptly.

SECTION 6 – WHAT YOU WILL DO

You agree that: You must provide us with full, accurate and truthful details of your net income, outgoings, creditors and dependants and you must also provide us with details of any outstanding judgments against you or any actual or threatened court proceedings.

You must make the agreed Monthly Payments to us in accordance with the Payment Programme

You must allow us to negotiate on your behalf with your Creditors

You must send us originals or copies of all correspondence you receive from your creditors so that we can deal with them on your behalf. Your correspondence will be scanned and sorted by us as an electronic image and the original paperwork destroyed. You must not ignore any correspondence either written or verbal from either your creditors or those acting on behalf of your creditor. The sooner you inform us of any correspondence received the sooner we can act on your behalf to address it.

During the term you must not make any payments directly to your Creditors unless you have notified us in advance that you propose to do so and we have agreed that such payment can be made.

You must tell us if your circumstances change so that if you are or may become unable to maintain the level of monthly payments or if there has been an improvement in your circumstances so that you are able to increase your level of Monthly Payments.

Refund Policy

SECTION 7 – WHAT WE WONT DO

Unfortunately there are certain things that we cannot do relating to your finances these include the following:

• We can not lend you money or offer any form of credit facility
• We will not usually provide the services in relation to secured credit
• We are not solicitors and cannot give you any legal advice
• We will always attempt to agree revised payment terms with your creditors, however your creditors are not legally obliged to stop any interest or charges and as such we cannot guarantee this. Nor can we stop any current or prevent any future recovery proceeding against you if they insist on doing this.
• We can not guarantee entering this agreement will have no effect on your credit file. Indeed there is likely to be a negative effect on your ability to gain short term lending and also a possibility this will extend into effecting both medium and long term lending

SECTION 8 – MANAGING YOUR MONEY

On receipt of your first payment you will be assigned a Client Liaison Officer (CLO), who will be responsible for your case until you have completed your third monthly payment. During this period your CCM will ensure that your consolidation program gets off to the best possible start, by working closely with both yourself and your creditors.

Your first 2 payments will be paid to us on the dates agreed with your Advisor. These payments will be used as our set up fee. If you continue to pay the monthly payments promptly for the full duration of the Payment Programme, a sum equal to the value of those 2 initial payments will be used as the final installment of your programme, as a gesture of goodwill by ourselves. However should you fail to complete the programme for whatever reason, including early full & final settlement of your debts, no contribution will be made by DSD.

All monies paid to DSD will be subject to our fee structure as detailed below. Any monies that are due to be paid out to your creditors will be held in a separate account, solely used for this purpose, and is an account not useable by DSD for purposes of its own business.

Each month we will charge you 17.5% of the agreed payment amount with a minimum of £30.00 (All fees are VAT exempt).

SECTION 9 – HOW YOU MAY END THIS AGREEMENT

Should you decide that you wish to end the programme, you have the right to cancel our agreement within the first 7 working days of the term, giving us notice in writing. We will then refund to you your initial fee. You may also cancel the agreement at any point throughout the term, giving us 1 weeks written notification, in this instance we reserve the right to retain the initial fee(s).

If you wish to cancel your programme after the monthly payment to your creditors has been made, we will be unable to refund any monies, the programme will be cancelled prior to the next due payment date. Should you cancel the programme whilst we are still in possession of any monies in your account that have not been forwarded to your creditors as payment. The payment will be returned to you, however will be subject to deductions in the form of our net costs for doing so.

Should we receive notice of cancellation by you our authority as your agent will be rescinded, and your creditors may revert back to the original terms and conditions of your arrangement with them.

SECTION 10 – HOW WE MAY END THIS AGREEMENT

We may end this Agreement at any time by giving you two weeks prior written notice if any of the following happens:

(a) You fail to make two successive Monthly Payments; or

(b) You are otherwise in serious breach of the Agreement or have persistently committed a series of minor breaches (even if any one individual breach would not necessarily be regarded as a serious breach on its own) ; or

(c) You become bankrupt, file a bankruptcy petition, make an arrangement or composition with your Creditors generally, or make an application to a court of competent jurisdiction for protection from your creditors generally.

SECTION 11 – EFFECT OF ENDING THIS AGREEMENT

When the Agreement ends:

(a) our duties and obligations under this Agreement will come to an end;

(b) your liability to your Creditors will continue to the extent that any amounts you owe to your creditors remain outstanding over and above the repayments made to them under the Payment Programme; and

(c) You may within 30 days of the end of this agreement request us to send you copies of all paperwork received from you or your creditors that has been retained by us as a scanned image.

Thank you.